Pharmarack raises $3 million in Series A funding round from IvyCap Ventures
On Monday, Healthtech startup Pharmarack has raised funding worth $3 million in Series A round from Ivy Ventures along with its previous investors Unicorn India Ventures and Currae Healthtech. The Pune-based firm plans to utilize the capital to expand its network for pharma manufacturers and retailers. The company offers a plug-and-play platform for pharmaceuticals manufacturers, distributors, and retailers to automate order-taking, and provides real-time visibility into operational data like inventory in the warehouse, outstanding amounts, and credit, among others.
ShopClues raises Rs 7.86 crore funding from its parent company, Clues Network Inc
According to RoC filings, the online commercial platform Shopclues has raised funding worth Rs 7.86 crore from Clues Network Inc, the parent company. The Gurugram-based company issued 4,320 equity shares to Clues network inc, at a premium of Rs 18,190 per share. The firm reduced its workforce by 50% and is now left with 500 employees. The company is currently focussing on profitability. The online marketplace has posted a loss of Rs 208 crore for FY’18, which is less than the losses reported in FY’17, that is, Rs 347 crore. The firm has raised investment worth $250 million and focusses on Tier II and Tier III cities.
Log 9 Spill Containment raises Rs 4 crore in pre-Series A round
Mumbai-based firm Log 9 Spill Containment has raised Rs 4 crore from angel investors Renjit Shinto and Omkar Ghaisas in its pre-Series A funding round on Monday. The company is a subsidiary of Log 9 Materials Scientific. The startup plans to use its fresh funding for product innovation and development, as well as for infrastructure development. The clean-tech startup deals in graphene-based products for better containment and absorption of oil spills and chemical spills, that take place off-shore and on-shore, for the protection of the environment.
AdvaRisk raises $700k in a seed round led by Sprout Venture Partners
Fintech platform AdvaRisk has raised a funding of $700,000 in a seed round led by Sprout Venture Partners, along with participation from investors like SEA Fund and angels, which include industry veterans like Sharad Bhatia, Ex-Managing Director, Multiples Alternate Asset Management, and Varadarajan Srinivasan, Ex-Deputy Managing Director, Axis Bank. The Mumbai-based platform focusses on fraud prevention, detection, investigation, and recovery. The firm plans to use its fresh capital for product development and to ramp up sales and business development teams.
Oyo South Asia CEO backs expert networking platform SpeakIn
Delhi-based networking platform SpeakIn has raised an undisclosed amount of funding from Oyo South Asia CEO Aditya Ghosh-backed Homage Ventures. The company plans to utilize the capital to launch its first of a kind “expert platform” and become the world’s porthole to Asian expertise. The company is a tech-enabled network of experts with more than 15,000 distinguished names across 500 genres. Their client base includes business organizations, investment professionals, and associations, among others. The firm is making the illustrious names accessible easily for one-on-one discussions and as speakers for conferences and events. The startup has already secured funding from other industry giants like Royal Enfield CEO Vinod Dasari and Max Healthcare Chairman Dr. Pradeep Chowbey.